PIE vs VOO
Invesco Dorsey Wright Emerging Markets Momentum ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. PIE delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PIE | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.03% | |
| AUM | $237M | $979.0B | |
| Dividend Yield | 1.71% | 1.09% | |
| Holdings | 113 | 509 | |
| YTD Return | +36.53% | +13.80% | |
| 1Y Return | +49.36% | +23.71% | |
| 3Y Return (annualized) | +21.36% | +21.50% | |
| 5Y Return (annualized) | +7.36% | +13.44% | |
| Volatility (annualized) | 22.8% | 14.1% | |
| Max Drawdown | -73.1% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2007 | Sep 7, 2010 |
PIE vs VOO Performance
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PIE returned +49.36% while VOO returned +23.71%. Year to date, PIE is up 36.53% versus a gain of 13.80% for VOO.
Over three years, PIE compounded at +21.36% per year against +21.50% for VOO; over five years the annualized figures are +7.36% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs +2.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIE has been the more volatile fund, with annualized monthly volatility of 22.8% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -73.1% for PIE and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIE charges 0.90% per year while VOO charges 0.03%. On a $10,000 position that is $90 vs $3 annually, a gap of $87 per year that compounds over a long holding period. On income, PIE currently yields 1.71% against 1.09% for VOO.
Holdings Overlap
PIE and VOO share 0 holdings out of 607 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PIE or VOO?
PIE has an expense ratio of 0.90% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, PIE or VOO?
Over the past year PIE returned +49.36% vs +23.71% for VOO, so PIE leads on 1-year performance. Over the longest common window we track (16 years), PIE annualized +2.06% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, PIE or VOO?
PIE has been the more volatile fund at 22.8% annualized versus 14.1% for VOO. Worst drawdown: PIE -73.1% vs VOO -34.3%.
Should I hold both PIE and VOO?
PIE and VOO have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIE and VOO?
PIE and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 607 unique securities.
Which pays a higher dividend, PIE or VOO?
PIE yields 1.71% while VOO yields 1.09%, so PIE currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.